Why was the Federal Reserve created in 1913?

Congress developed the Federal Reserve Act to establish economic stability in the United States by introducing a central bank to oversee monetary policy. ... The 1913 Federal Reserve Act, signed into law by President Woodrow Wilson, gave the 12 Federal Reserve banks the ability to print money to ensure economic stability.

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VidyaaTech2022 VidyaaTech2022 · Answer 2 · 2022-07-31T14:37:34+02:00

The act of Federal reserve created in the year 1913 was to regulate the banks of US country.

Option B is correct.

What is a bank?

Bank is a financial entity that allows the individuals to deposit their savings in the accounts being opened with them. It also provides another facilities to account holders like loans, fixed deposits, etc.

The federal government has initiated the act of Federal reserve in the year 1913 for setting up the federal reserve system. This system is considered to be the national bank of US that controls and manages the other banks present in the country of US. It monitors the reserves of various banks and also issue the currency notes, coins and other needed financial instruments.

Therefore, the correct option is option B.

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https://brainly.com/question/12984338

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